Ask a VC
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An Insider’s Take on Hiring Your First VP of Sales
Storm Ventures Managing Director Ryan Floyd and Go-to-Market Consultant Mark Stephenson discuss how early-stage companies can hire the right VP of Sales using a few essential strategies.
#b2bsaas #venturecapital #hiring #salesexecutive #gotomarket
Here's what's covered:
0:00 Intros: Ryan & Mark
1:13 Hiring the Right VP of Sales
2:58 Preparing with a Strategic Plan
4:55 Importance of Defining the Spec (Functional Experience, Domain Experience, and Customer Experience)
6:00 Functional Experience
8:02 Domain Experience
10:39 Customer Experience
11:34 Should Be Stage-Appropriate for the Company
12:34 Hypothetical Situation - Business with $1m ARR
14:25 The Interview Process
21:39 Questions to Ask the Candidate
23:06 Sales is a Systematic Process
25:18 Set Objective Criteria - How to See Green, Yellow, and Red Flags
27:13 How Important is Culture?
33:23 What About Diversity?
37:15 Three Es for Top Sales Hires (Ego, Empathy, Energy)
38:57 Take Your Time to Hire Well
40:08 Importance of References
44:55 Thanks!
Make sure to also:
- Follow Ryan on Twitter @RyanFloyd for more content on building SaaS B2B startups, venture capital, and entrepreneurship in general
- Subscribe to Ryan’s blog at ryanfloyd.org, where he talks about why he invests in certain companies and broader tech industry issues
- Connect with Ajay on LinkedIn www.linkedin.com/in/ajayawatramani/
- Check out the #AskAVC​​​ podcast based on this channel - anchor.fm/ask-a-vc
About Ryan Floyd:
Ryan is a founding Managing Director of Storm Ventures, where he invests in, and works with, early-stage enterprise SaaS startups. His primary focus is applications and cloud infrastructure-related companies. He is always interested in hearing from passionate technology entrepreneurs. Ryan is a skilled writer and commentator on all things SaaS. He's written for TechCrunch, Sifted, Thrive Global and regularly contributes to The UK Newspaper. He's the host of the recently launched #AskAVC​​​ TH-cam channel aimed at enterprise entrepreneurs. In each episode, he tackles a different issue relating to building and scaling B2B startups - topics such as pitching to an investor and tackling sales churn.
When he's not working with his portfolio founders, Ryan is active with Code2040, a nonprofit organization that creates pathways to educational, professional, and entrepreneurial success in technology for underrepresented minorities. And occasionally, he finds time for surfing!
About Mark Stephenson:
Mark has over 30 years of solution sales GTM leadership experience with high-growth venture backed Series A through E SaaS modern software disruptors such as Evisort, Avi Networks as well as large matrix sales organizations such as HP and Cisco. Mark started sales at Xerox. Over the years as a strategic go-to-market executive, he has developed a four-pronged growth approach to drive consistent exceptional results delivering above quota performance in 24 of 27 operating years. Mark loves building teams that work well together and has a proven ability to lead direct and indirect sales teams at the 3rd and 4th line level as well as Marketing and Customer Success Orgs. He is a high-energy, cross-functional business partner known as a creative thinker with a method for aligning GTM with the business, who has a passion for finding and developing talent, and building repeatable customer engagement and growth process that leverages the team for impact. Great results come from great teams -- Mark can help you hire great GTM team members, put them to work on the right things to scale results.
มุมมอง: 96

วีดีโอ

3 Mistakes European Businesses Need to Avoid When Entering the U.S. Market
มุมมอง 342ปีที่แล้ว
Originally from France, Storm Ventures Partner @PascaleDiaine lays out the 3 mistakes European businesses need to avoid to ensure a successful entry into the U.S. market. #B2BSaaS #venturecapital #AskaVC The 3 Mistakes Covered: 0:55 Only having European customer references 1:51 Underestimating the work around adapting the sales playbook 2:39 Waiting too long before expanding Make sure to also: ...
AI & B2B SaaS: Worth the Hype? (Part 2)
มุมมอง 267ปีที่แล้ว
Storm Ventures Managing Director Ryan Floyd and Entrepreneur-in-Residence Ajay Awatramani discuss AI’s impact on B2B SaaS and how companies can skate to where the puck is going. #b2bsaas #AI #venturecapital Here's what's covered in Part 2: 0:11 AI's potential to drive productivity 0:50 Will AI replace jobs? 1:32 Data is lifeblood of AI 3:52 Importance & variability of datasets 4:30 Garner data ...
AI & B2B SaaS: Worth the Hype? (Part 1)
มุมมอง 549ปีที่แล้ว
Will every SaaS company become an AI company? Will AI unlock guaranteed ROI? Is the promise of AI real and what’s the hype anyway? Storm Ventures Managing Director Ryan Floyd and Entrepreneur-in-Residence Ajay Awatramani answer these questions and more in the latest episode of Ask A VC! #b2bsaas #AI #venturecapital Here's what's covered in Part 1: 0:05 Introductions 1:05 AI is not new 1:50 IBM ...
Product Market Fit: 4 Ways to Know if Your Business Has Found It
มุมมอง 484ปีที่แล้ว
Got Product Market Fit? Storm Ventures Partner @PascaleDiaine explains how to know if your company’s product is ready to scale #B2BSaaS #PMF #venturecapital The 4 Signals Covered: 1:13 1. High Product Usage 1:51 2. Pipeline Growth Over Time 2:32 3. Measuring Urgent Pain 3:10 4. Repeat Sales Make sure to also: - Follow Pascale on Twitter @Pascale for more content on building SaaS B2B startups, v...
Raising Money During a Recession: What Are the 5 Signals VCs Look For?
มุมมอง 649ปีที่แล้ว
Raising a round during difficult times? VCs are still deploying capital! Storm Ventures Partner Pascale Diaine shares her insight on the 5 main signals VCs look for when investing in startups during a recession. #askavc #venturecapital #recession #arr #ndr The 5 Signals Covered: 0:40 1. ARR Growth Rate - 2X is the new 3X 1:20 2. Net Dollar Retention - The new golden metric during a recession 3:...
Remote Work: Is it a Revolution? - AskAVC #37
มุมมอง 153ปีที่แล้ว
Remote work is here to stay. But it’s not what you think. Storm Ventures’ managing director Ryan Floyd reflects upon the new way people work and what that means for founders and investors going forward. Some of the topics covered: 0:45 Why we aren’t going back to the way it was 1:48 The old days of venture pitching 3:25 Remote work offers unique flexibility 4:19 Many of our portfolio companies ...
Startup Funding: How Venture Investors Make Decisions - AskAVC #36
มุมมอง 6962 ปีที่แล้ว
The venture capital world is notoriously elusive - even for the founders seeking investments. But the process isn't intended to be secretive. Venture Capital investor Ryan Floyd and fellow partner at Storm Ventures, Pascale Diaine take you behind the scenes, revealing their firm's process step-by-step. Find out what happens after your initial pitch, what to note when talking to different VC fir...
SaaS startups: Navigating Uncertain Times - AskAVC #35
มุมมอง 2562 ปีที่แล้ว
The only certainty in business is uncertainty! No founder or investor could have predicted events like the Covid-19 pandemic or the war in Ukraine - both of which had profound effects on the economy, and therefore SaaS and the venture capital investment trends. But there are ways that startups can prepare for unforeseen ups and downs. Venture Capital investor Ryan Floyd shares his advice on how...
Customer experience 101 - AskAVC #34
มุมมอง 9K2 ปีที่แล้ว
Net dollar retention and customer experience are highly critical for the success of your SaaS business. I had a chance to connect recently with Gaby Moran, director of customer experience at Workato (www.workato.com/). Before her current role, Gaby spent quite a few years at Medallia (www.medallia.com/), customer experience management software with a world-class NPS of 60 . Our conversation tur...
Cybersecurity for a small business: latest threats - AskAVC #33
มุมมอง 18K2 ปีที่แล้ว
In this video, I talk about the latest cybersecurity threats you should be aware of as a founder of a small business (what your startup essentially is). Alastair Paterson, Co-founder and CEO of a cybersecurity company Digital Shadows (www.digitalshadows.com/), joined me to answer your questions about the dark web and more. - How has the global pandemic affected the cybersecurity landscape? - Ho...
How to master net dollar retention - AskAVC #32
มุมมอง 24K2 ปีที่แล้ว
Net dollar retention (NDR) is critical to your SaaS startup's success. I talked quite a bit about churn in the early days of this channel. Mastering NDR is the next logical step you should consider as you continue to grow your startup. In this video, I am sharing 4 tips that will help you take control of your net dollar retention metric - and take it to the next level: - What is the difference ...
8 ways to finance your startup - no VC funding required! AskAVC #31
มุมมอง 14K3 ปีที่แล้ว
In this video, I share with you 8 ways to finance your startup - and that doesn't include venture capital! It might seem odd coming from a VC investor. However, my goal for you as a startup founder is to be aware of all the options that are available to finance your business - along with their respective pros and cons. When you do partner with a VC like myself, you need to be sure that it is, i...
Understanding diversity and inclusion - AskAVC #30
มุมมอง 903 ปีที่แล้ว
In the latest #AskAVC episode, we talk about understanding and the importance of diversity, inclusion, and equity in startups. I am joined by Aubrey Blanche, Director of Equitable Design at Culture Amp, The Mathpath (Math Nerd Empath), and a startup investor and advisor. Aubrey is a recognized thought leader when it comes to building more equitable businesses - and our conversation is full of a...
Go to market strategy for startups - AskAVC #29
มุมมอง 2563 ปีที่แล้ว
In this video, I talk about go to market strategy for startups. A few weeks ago I had a great conversation on the topic with the hosts of the European VC podcast where we discussed some of the patterns I observe among enterprise startups. - Does it matter which vertical you are selling to? - How critical the price point of the product is for your success? - When should you hire a VP of sales fo...
How to break into VC - AskAVC #28
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Startup equity & convertible notes explained - AskAVC #26
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How much to pay startup advisors - AskAVC #25
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What is enterprise automation: tech breakdown - #AskAVC 24
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Angel investing vs. venture capital - AskAVC #20
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AskAVC #19 - How to cold email investors
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AskAVC #18 - Has digital transformation failed?
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AskAVC #15 - Investor advice on how to deal with COVID-19
AskAVC #14 - Do's and don'ts of building remote teams
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AskAVC #14 - Do's and don'ts of building remote teams

ความคิดเห็น

  • @saketsaurabh09
    @saketsaurabh09 6 วันที่ผ่านมา

    Great discussion! Must watch for entrepreneurs going from founder selling to systematic GTM

  • @peterbrayshaw4163
    @peterbrayshaw4163 หลายเดือนก่อน

    Great advice very informative & helpful for my startup

    • @RyanFloydx
      @RyanFloydx หลายเดือนก่อน

      Thank you!

  • @charlesfreeman4147
    @charlesfreeman4147 หลายเดือนก่อน

    Thank you, very useful information!

  • @Dipak.Kumar9693
    @Dipak.Kumar9693 4 หลายเดือนก่อน

    What a valuable video on cold emailing! If you are serious about improving your outreach, Mystrika is the way to go. Close more deals and see real growth in sales. Hope you do a video on it next!

  • @sandipbhil172
    @sandipbhil172 4 หลายเดือนก่อน

    This video on cold emailing is spot on! If you want to take it to the next level, Mystrika is your answer. With killer features like preheaders and AI writing, it is unbeatable for cold email campaigns.

  • @paswan69
    @paswan69 4 หลายเดือนก่อน

    Great channel for learning about investor outreach! I would love to see you do a review on Mystrika. It is revolutionized my outbound lead generation and the community is over 5000 strong!

  • @FletcherRacicot
    @FletcherRacicot 5 หลายเดือนก่อน

    Yo, Ask a VC dropped a new video on cold emailing, huh? Great info, but let me tell you - using Mystrika made my whole cold emailing strategy smoother. Sales are growing like crazy. Do not sleep on this gem!

  • @EveliinaEggink
    @EveliinaEggink 5 หลายเดือนก่อน

    Solid work on this new AskAVC vid about emailing investors. I have got to say, though, Mystrika is seriously unmatched when it comes to cold email tools. The detailed analytics alone has helped me close so many deals!

  • @TacitoShatzel
    @TacitoShatzel 5 หลายเดือนก่อน

    Caught the new cold email vid from Ask a VC, really insightful. But if you are serious about inbox deliverability, go for Mystrika. The free warmup for one email address is a game changer!

  • @AmandioLazure
    @AmandioLazure 5 หลายเดือนก่อน

    Stumbled on Ask a VC is video on emailing investors - good stuff! But it is also worth noting that Mystrika is unified inbox makes managing a ton of email addresses super easy. That is been a real lifesaver for me.

  • @CirineoCruise
    @CirineoCruise 5 หลายเดือนก่อน

    Great stuff from Ask a VC is recent video on cold emailing investors. Even better is coupling that info with Mystrika is unbeatable cold email platform! The automatic bounce detection feature helps to improve email reputation.

  • @ChantayStarrett
    @ChantayStarrett 5 หลายเดือนก่อน

    Yo, Ask a VC dropped a new video on cold emailing, huh? Great info, but let me tell you - using Mystrika made my whole cold emailing strategy smoother. Sales are growing like crazy. Do not sleep on this gem!

  • @LiborioConiglio
    @LiborioConiglio 5 หลายเดือนก่อน

    New Ask a VC vid on emailing investors is on point. Mixing their advice with Mystrika is robust tracking features is a goldmine. That is how you build trust with prospects!

  • @TristanaRummage
    @TristanaRummage 5 หลายเดือนก่อน

    Caught the new cold email vid from Ask a VC, really insightful. But if you are serious about inbox deliverability, go for Mystrika. The free warmup for one email address is a game changer!

  • @EricDaoust
    @EricDaoust 5 หลายเดือนก่อน

    Just checked out AskAVC is latest vid on cold emailing investors, great content as always. Still, when it comes to actually sending those emails, nothing beats Mystrika is handling. My lead generation has shot through the roof ever since I started using i

  • @SheritaMezza
    @SheritaMezza 5 หลายเดือนก่อน

    Just got done watching the new Ask a VC vid on cold emailing. The community could benefit just as much, if not more, from exploring Mystrika is insane inbox rotation option. It makes scaling up your email volume so doable. Trust me on this!

  • @SamForest
    @SamForest 5 หลายเดือนก่อน

    Just checked out AskAVC is latest vid on cold emailing investors, great content as always. Still, when it comes to actually sending those emails, nothing beats Mystrika is handling. My lead generation has shot through the roof ever since I started using i

  • @MinotauroSolis
    @MinotauroSolis 5 หลายเดือนก่อน

    Ask a VC dropping some email wisdom made me think of how astounding Mystrika is tool really is. Its programmable email feature truly takes cold emailing to another level. Cold email without Mystrika is not even worth thinking about.

  • @EzekielMay-bp9cj
    @EzekielMay-bp9cj 5 หลายเดือนก่อน

    Just got done watching the new Ask a VC vid on cold emailing. The community could benefit just as much, if not more, from exploring Mystrika is insane inbox rotation option. It makes scaling up your email volume so doable. Trust me on this!

  • @FloridaPiedmont
    @FloridaPiedmont 5 หลายเดือนก่อน

    Ask a VC dropping some email wisdom made me think of how astounding Mystrika is tool really is. Its programmable email feature truly takes cold emailing to another level. Cold email without Mystrika is not even worth thinking about.

  • @GiorgioSalwey
    @GiorgioSalwey 5 หลายเดือนก่อน

    Just saw Ask a VC is latest piece about cold emailing, some valuable tips in there! Combining that knowledge with Mystrika is AI writing is so damn powerful for personalizing outreach. It is the tool to beat, no doubt.

  • @OrigenesHibbert
    @OrigenesHibbert 5 หลายเดือนก่อน

    Solid work on this new AskAVC vid about emailing investors. I have got to say, though, Mystrika is seriously unmatched when it comes to cold email tools. The detailed analytics alone has helped me close so many deals!

  • @EngraciaGalassini
    @EngraciaGalassini 5 หลายเดือนก่อน

    Great stuff from Ask a VC is recent video on cold emailing investors. Even better is coupling that info with Mystrika is unbeatable cold email platform! The automatic bounce detection feature helps to improve email reputation.

  • @MelinLisa
    @MelinLisa 5 หลายเดือนก่อน

    New Ask a VC vid on emailing investors is on point. Mixing their advice with Mystrika is robust tracking features is a goldmine. That is how you build trust with prospects!

  • @BrysonAyo
    @BrysonAyo 5 หลายเดือนก่อน

    Stumbled on Ask a VC is video on emailing investors - good stuff! But it is also worth noting that Mystrika is unified inbox makes managing a ton of email addresses super easy. That is been a real lifesaver for me.

  • @SandieShaddix
    @SandieShaddix 5 หลายเดือนก่อน

    Just saw Ask a VC is latest piece about cold emailing, some valuable tips in there! Combining that knowledge with Mystrika is AI writing is so damn powerful for personalizing outreach. It is the tool to beat, no doubt.

  • @ritchiezyt
    @ritchiezyt 8 หลายเดือนก่อน

    This video is such a gem and so very presented.

  • @leomosia
    @leomosia ปีที่แล้ว

    Thank you so much, I’m someone who is really worried by the fact that I only focused on building products for 9 years (coding) without attending tech events and seminars for networking

  • @JanosFeher
    @JanosFeher ปีที่แล้ว

    It is so refreshing and calming to hear these from a VC. Thank you!

  • @aswinvogel1878
    @aswinvogel1878 ปีที่แล้ว

    Hi Ryan, this video is great. I understand how important customer experience is to you in terms of the relationship with customers. How interested are you as a VC in the saas platforms user experience? Do you consider the UX of a product before investing? #askavc

  • @Razord12
    @Razord12 ปีที่แล้ว

    Great video!

  • @firepunchfromseoul
    @firepunchfromseoul ปีที่แล้ว

    Thanks !!

  • @jayar7280
    @jayar7280 ปีที่แล้ว

    As a researcher, deal sourcing and sourcing, I learned a lot from this video. Thank youuu! :)

  • @nicholasstewart2421
    @nicholasstewart2421 ปีที่แล้ว

    Incredibly helpful video Ryan! Great content, thank you! 🙇🏻‍♂

  • @oxwellstoer5318
    @oxwellstoer5318 ปีที่แล้ว

    I rather die than go back to my daily one-hour commute (one-way), plus all the miserable office politics of my old job. But the commute was the worst; I still have PTSD from being trapped in traffic and driving 5 miles/hr on the freeway every single day. And then having to wait 10 minutes just to use the elevator because our building's lobby was full and we had to get in line just to get on that stupid elevator. I spent almost 2 hrs daily just trying to get into my office. Talk about inefficiency and a royal waste of time. By that point, the last thing I wanted to do was do "team collaboration". Fast-forward now, I recently got a brand new fully remote job. I had never before been onboarded remotely, and I knew it wouldn't be comfortable. But I got through it successfully, and I'm loving what I'm doing now, and I love my new team. I wanted to prove to myself that I could get through the onboarding process remotely because I got the feeling that more and more jobs will start doing that as we move into the future. So I thought I might as well adapt, and get good at it sooner than later. Remote work is the BEST.THING.EVER. Never going back.

  • @orrbifold
    @orrbifold ปีที่แล้ว

    Lol paying for Investor council, what a fucking joke

  • @phantomoiu
    @phantomoiu ปีที่แล้ว

    Good 👍

  • @SergeyNewton
    @SergeyNewton 2 ปีที่แล้ว

    Thank you!

  • @livewirzUSA
    @livewirzUSA 2 ปีที่แล้ว

    Really great insight, thank you so much! 😎👍

  • @chrisypandian5182
    @chrisypandian5182 2 ปีที่แล้ว

    It was an Awesome Video and very encouraging for Founders like me who is looking for a meeting with Investors (without warm introduction). Thanks.

  • @discovertemplebar622
    @discovertemplebar622 2 ปีที่แล้ว

    Thanks for sharing Ryan and Pascale. :)

  • @ChaunceyZalkin
    @ChaunceyZalkin 2 ปีที่แล้ว

    This is great.

    • @AskaVC
      @AskaVC 2 ปีที่แล้ว

      Thanks for watching! LMK what other questions/topics are of most interest to you.

  • @ranijohnsos7930
    @ranijohnsos7930 2 ปีที่แล้ว

    Hi Ryan, thanks you for sharing this information clearly and succinctly

  • @joshua1557
    @joshua1557 2 ปีที่แล้ว

    ???????

  • @ralphaceves5148
    @ralphaceves5148 2 ปีที่แล้ว

    Very useful, thanks for sharing this insight

  • @ashmarbarbour
    @ashmarbarbour 2 ปีที่แล้ว

    Loved it

    • @AskaVC
      @AskaVC 2 ปีที่แล้ว

      Glad it was helpful, Ash! Let me know if you have topic suggestions for future episodes

    • @ashmarbarbour
      @ashmarbarbour 2 ปีที่แล้ว

      @@AskaVC Recently I have been researching about how to build the best advisory board... with the main objective being to get accepted into a top tech accelerator program.

  • @WinningByDesign
    @WinningByDesign 2 ปีที่แล้ว

    Love this video, the passion you deliver it with and the clear voice and structure. Thank you Ryan!

    • @AskaVC
      @AskaVC 2 ปีที่แล้ว

      Thanks - I appreciate the feedback and the kind words!

  • @vqazvinian
    @vqazvinian 3 ปีที่แล้ว

    Love this video! Thank you Ryan.

    • @vqazvinian
      @vqazvinian 3 ปีที่แล้ว

      The example of the PDF report to deliver value happened to us just this week.

    • @AskaVC
      @AskaVC 2 ปีที่แล้ว

      That's great - glad you found it useful, Vahed!

  • @UyiAbraham
    @UyiAbraham 3 ปีที่แล้ว

    Thank you 🔥

  • @jeremyhenley7533
    @jeremyhenley7533 3 ปีที่แล้ว

    Hi Ryan! Thanks for all of your videos. I think they are great. One area I am still trying to get comfortable with is what are typical valuations at the seed stage? What are typical percentages that are given to or asked from the investor? Maybe you can create a video that has ranges for different scenarios. New founder, no traction, but a solid idea. Founder with some experience, some traction, and revenue, new founder, revenue traction but needs capital to quite full-time job and grow/expand. I think some scenarios and general ranges would hit a lot of founders in different places.

    • @AskaVC
      @AskaVC 3 ปีที่แล้ว

      Valuation is a hard topic when it comes to typical. Especially at the seed stage when metrics are non-existent. Its a good suggestion for a video - I have covered it a bit in prior clips but maybe it deserves more time. One thing I would tell entrepreneurs is to avoid at all costs giving away significant percentages of the business at the early seed stages. By significant, I mean more than 15-20%. The reason is that future rounds will be dilutive as well - at least as much if not more - than the seed round. The objective of the seed is to prove some things out, understand the opportunity and set the business up to begin to scale. These actions are not a function of dollars as much as time in my experience. You cannot bake a cake at 1000deg for 5min and expect a good result. Companies that give up too much equity at the beginning risk creating a problem for future rounds. We are nervous about investing in companies where employees and founders are not the vast majority of the cap table - and I know we are representative of most investors. If you play this concept out - if you needed let's say 1 year to figure out the opportunity and product and another 6 months to get some early customers for an A round - and it was going to cost you $1.5m to do it, you would want to drive a valuation of >10m pre. The other somewhat obvious comment would be the more competition there is for the opportunity, the more you will be able to control your destiny. Finally, I would say the biggest driver of valuation from investors at the seed is the team. While many people have potential, investors are trying to de-risk things early so they are looking for the ability to execute and demonstrated success. Can the founder recruit, can they raise money, can they sell etc. Bigco execs don't do any better here so experience is relative to the opportunity.